A MORTGAGE expert has warned that Bank of Ireland’s decision to increase the interest rate on its variable rate mortgages could “serve as a tipping point” for people already struggling to make repayments.

Bailed-out Bank of Ireland today announced almost 58,000 homeowners are to be hit with a hike in interest rates for the second time this year.

Bank of Ireland is to increase its variable interest mortgage rate by 0.45% from next Tuesday, August 10, the bank announced today.

WITH announcements yesterday that Bank of Ireland and EBS Building Society are to raise interest rates, many homeowners are wondering whether now may be the time to fix their mortgage.

Bank of Ireland has introduced a two-year fixed rate of 2.65% for first-time buyers (FTB).

Bank of Ireland, ICS Building Society and Permanent tsb have confirmed they will pass on the full ECB rate decrease of 0.5% to standard variable rate (SVR) and tracker rate mortgage customers.

Bank of Ireland has today announced interest rate increases across its fixed and tracker rate mortgages on homeloan and residential investment loans.

BANK of Ireland is investing €10 million in its internet banking service, adding a new online international payments service primarily aimed at Ireland’s migrant community.

Bank of Ireland today announced the introduction of credit interest at a new variable rate of 10.5% (10.92% EAR) on its current accounts.

MORE THAN 6,000 calls were made to a banking hotline in the past three months, with the majority related to credit cards.

Brendan Nevin, director of strategy and marketing with Bank of Ireland, has been elected chairman of the Marketing Institute of Ireland.

Eircom said it is committing €20m over three years to modernise the Irish landline by introducing new digital phones with SMS capabilities for businesses and home customers.